Word: tariff
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Special Interests. The U.S., on the other hand, seems in no mood to encourage more imports. Nixon last week declined to back mandatory quotas for the shoe industry, but he did order the Tariff Commission to begin a study of shoe imports under the "escape clause" provision of the General Agreement on Tariffs and Trade. The move could lead to higher tariffs. Most important, Nixon has shelved a presidential task-force report calling for increased oil imports...
Touchstone Issue. Next week the House Ways and Means Committee will begin hearings on a trade act that President Nixon sent to Congress late last year. In that document Nixon affirmed the principle of freer trade but suggested tighter restrictions on some imports and more accessible tariff shelters for U.S. industries injured by foreign competition...
...that country has been switching its export emphasis to costlier and more complex products, like television sets and turbines. But the Japanese fear that if they yield on textiles, they will face similar demands for quotas on other goods. The U.S. electronics industry has already asked Washington's tariff commission to investigate alleged Japanese dumping of TV sets. Japanese electronics manufacturers, dismayed by the tough U.S. stand on textiles, are informally discussing among themselves whether to limit their shipments...
World Control Center. One articulate critic of the Task Force plan is Walter J. Levy, dean of oil consultants, who argues that Middle Eastern governments might well object to a tariff that discriminates against them. The tariff itself would involve mind-boggling complexity to cover varying costs of production and shipping. It would also require frequent adjustments to take account of the Defense Department's calculation of the reliability of supplies from each producing country...
Levy contends that carefully liberalized quotas would bring down prices but would not present as many problems as a tariff system. Higher quotas, however, might just increase the size of the unearned bonanza awarded annually to U.S. refiners in import permits...